12A — January 2025 — New Jersey — M id A tlantic Real Estate Journal
www.marej.com
N ew J ersey
TYKO Capital loan to facilitate the construction of The Greyson, a class A mixed-use tower Walker & Dunlop secures $245 Million financing for 28-story development in Jersey City, NJ
ERSEY CITY, NJ — Walker & Dunlop, Inc. announced that it has arranged a $245 million loan from TYKO Capital to fa- cilitate the construction of The Greyson, a 28-story, 622-unit class A mixed-use tower that will be located in Jersey City. The Walker & Dunlop New York Capital Markets team, led by Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Jordan Ca- sella, and William Herring , acted as exclusive advisors to the client, Nasser Freres , and identified TYKO Capital, which J
is backed by Elliott Invest- ment Management , as the lender. With the building al- ready nearing top-off, the loan proceeds will fund the balance of costs to complete. The property will rise on a 0.7-acre site in Journal Square. The development will feature 389,720 rentable s/f of residential space, offer- ing a diverse mix of studios, 1-bedroom, 1-bedroom + den, 2-bedroom, and 3-bedroom apartments. Additionally, the project includes 44,551 rentable s/f of office space and 2,965 rentable s/f of retail
along the newly extended Homestead Ave. “The Greyson will redefine luxury living in Jersey City, appealing to renters seeking exceptional amenities and prime connectivity as a high- value alternative to Manhat- tan,” said Michael Sokoloff , a partner at Nasser Freres. “We are thrilled to partner with Walker & Dunlop and TYKO Capital on a project that will not only enhance the skyline but also contribute to the vitality of the Journal Square community.” The Greyson will boast an
array of cutting-edge ameni- ties, including a rooftop pool with Manhattan skyline views, state-of-the-art fitness center, immersive virtual reality and sports rooms, and thoughtfully designed communal spaces. Its strategic location offers resi- dents seamless access to the Journal Square Transportation Center, ensuring connectivity across NJ and to downtown and midtown Manhattan. The property will also enhance the neighborhood with a new pub- lic pathway linking Newark Ave. and Pavonia Ave., creat- ing a vibrant and accessible urban experience. “Jersey City has undergone a remarkable transformation over the past decade, becoming a magnet for residents seeking competitively priced, spacious rental options compared to NYC,” said Keith Kurland , senior managing director and co-head of NY Capital Markers at Walker Dunlop. MAREJ Habitat Greater Newark receives $55.5K grant from Lowe’s to support home repair projects NEWARK, NJ — Habitat Greater Newark announced it has received a $55,500 grant from Lowe’s to help repair (7) homes in Essex, Hudson and Union Counties. The funding will support Habitat Greater Newark’s ef- forts to make homes safer and healthier and create stronger communities. With the support of the grant, Habitat Greater Newark will work in (7) homes to repair roof and gutters, mold and asbestos remediation, and repair electrical and plumb- ing issues. This grant will help us provide and maintain safe and healthy environ- ments for each homeowner. The funding from Lowe’s is part of a two-year, $6 mil- lion donation to Habitat for Humanity International to support home repair and preservation efforts in owner- occupied homes. This year, funding will enable 110 local Habitat affiliates to complete 295 projects and impact near- ly 700 families across the U.S. Since 2003, Lowe’s and Habi - tat have worked together to help more than 18,000 people build or improve a place to call home. MAREJ
The Greyson
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